18. You're a new hire in operations of a large laundry soap product firm. Which of the following can you expect A. A typical life cycle of less than a year B. Suppliers selected for speed and flexibility OC. Quick response to unpredictable demand OD. High inventory turnover
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- The Eagle Machine Company averaged $2 million in inventory last year, and the cost of goods sold was $10 million. Figure 12.5 shows the breakout of raw materials, work-in-process, and finished goods inventories. The best inventory turnover in the company’s industry is six turns per year. If the company has 52 business weeks per year, how many weeks of supply were held in inventory? What was the inventory turnover? What should the company do?9 - Which of the following is one of the fastest and most common approaches to personnel procurement today? a) Internet B) magazine NS) TV D) Announcements TO) newspaperAssume that you are the manager of a shop that assembles power tools. You have just received an order for 53 chain saws, which are to be shipped at the start of week 8. Pertinent information on the saws is Item Lead Time (weeks) On Hand Components Saw 2 15 A(2), B(1), C(4) A 1 10 E(3), D(1) B 2 5 D(2), F(3) C 2 65 E(2), D(2) D 1 20 E 1 10 F 2 30 Develop the material requirements plan for component E using lot-for-lot ordering. (Leave no cells blank - be certain to enter "0" wherever required.) Item: E(3) & E(2) LT = 1 wk. Beg. Inv. 1 2 3 4 5 6 7 8 Gross requirements Scheduled receipts Projected on hand Net requirements Planned order receipt Planned order release
- Assume that you are the manager of a shop that assembles power tools. You have just received an order for 52 chain saws, which are to be shipped at the start of week 8. Pertinent information on the saws is Item Lead Time (weeks) On Hand Components Saw 2 15 A(2), B(1), C(4) A 1 10 E(3), D(1) B 2 5 D(2), F(3) C 2 65 E(2), D(2) D 1 20 E 1 10 F 2 30 Develop the material requirements plan for component E using lot-for-lot ordering.(Need all four Question s....attempt only if you will provide answers for all four....thanks) if not then skip it Q1. Inventory is the term we use to describe the accumulation of materials, customers or information as they flow through processes or networks. Match column A to column B for different types of inventory. Column A:1. Bed and breakfast accommodation2. Airport3. Hospital4. Car manufacturer5. Bank Column B: A. Application formsB. Components and partsC. Syringes and bandagesD. TicketsE. Food and beverages ---------------------------------------------------------------------------- Q2: Match the inventory type to how it is used. Column A: 1. Cycle inventory2. Anticipation inventory3. De-coupling inventory4. Pipeline inventory5. Buffer inventory Column B: A. When demand and supply is not predictableB. Safety stock to maintain supply when other products are being madeC. To fill the processing pipeline while goods are in transitD. Build up stocks during periods of low demand…A what is the inventory turnover for the hamburger patties? B. On average, how many days of supply are on hand?
- 1. Net sales for the hosiery department in May wee $30,620. Book inventory at the end of the month showed that $97,831 should be on hand. Physical inventory showed $97,560. Determine shortage or overage percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). 2. Using the data below, determine the closing book inventory. Not all information given may be needed. Present your answer with a dollar sign, comma separator, rounded to the dollar. (i.e. $19,567) Opening inventory $89,760 Gross purchases $43,620 RTV $860 Cash discounts $320 Markdowns $5,246 Markdown cancellations $318 Employee discounts $784 Gross sales $49,318 Customer returns $2,945 Net markups $760 3. Calculate the shortage or overage percent, given the following information. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). NOTE. There is another question in this quiz using the same data. Opening inventory…1. The Kintampo Tourist Resort (KTR) is one of Ghana’s best holiday centers and sells a special type of souvenir called Expensive. As you might expect, the demand for Expensive is highly seasonal as tourist centers exhibit a highly seasonal attraction pattern, with peaks during the summer months. The following forecasts are available for Expensive.Inventory carrying cost = GH¢3 per piece per quarter Production per employee = 1000 piece per quarter Regular workforce = 50 workersCost of regular production = GH¢50 per piece Hiring cost per employee = GH¢75Firing cost per employee = GH¢100 The management of KTR does not wish to use Level production nor Chase Demand but wants to adopt one of the following strategies:Strategy I: Produce 71,000 pieces in Quarter 1, Produce 151,000pieces in Quarter 2, Produce 200,000 pieces in Quarter 3,and Produce 30,000 pieces in Quarter 4.Strategy II: Produce 51,000 pieces in Quarter 1, Produce 161,000pieces in Quarter 2, Produce 210,000 pieces in Quarter…10. Mention and describe what each of the 4 types of approaches to demand analysis discussed in class consists of.
- One of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 400,000 parts in one year1. 500,000 in year 2; 700,000 in year 3. shipping and handling of parts from the supplier’s factory is estimated at $0.01 per unit. Additional inventory handling charges should amount to $0.006 per unit. Finally, administrative costs are estimated at $30 per month. Although your plant can continue producing the part, the plant would need to invest in another molding machine, which would cost $20,000. Direct materials can be purchased for $0.06 per unit. Direct labor is estimated at $0.05 per unit plus a 50% surcharge for benefits and, indirect labor is estimated at $0.008 per unit plus 50% benefit. Up-front engineering and design costs will amount to $40,000. Finally, management has insisted that overhead be allocated if the parts are made in-house at a rate of 100%…Payments to suppliers include payments for which of the following? A. Income taxes B. Inventory C. Employee compensation D. All of the above.(M1). Which of the following managerial accounting techniques attempts to allocate manufacturing overhead in a more meaningful manner? Select the correct response: 1.Total Quality Management 2.Balance score-card 3.Just-in-time inventory 4.Activity based costing